JPMorgan Chase & Co. Lowers Phillips 66 (NYSE:PSX) Price Target to $131.00

Phillips 66 (NYSE:PSX - Get Free Report) had its price target lowered by research analysts at JPMorgan Chase & Co. from $138.00 to $131.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the oil and gas company's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 23.92% from the stock's current price.

Several other analysts also recently issued reports on PSX. StockNews.com raised shares of Phillips 66 from a "sell" rating to a "hold" rating in a report on Monday. Piper Sandler lowered Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 10th. Raymond James decreased their price objective on shares of Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Wells Fargo & Company lowered their price target on shares of Phillips 66 from $162.00 to $149.00 and set an "overweight" rating for the company in a report on Monday. Finally, Scotiabank dropped their target price on Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $136.36.

Phillips 66 Stock Performance

NYSE PSX traded down $0.06 during trading hours on Tuesday, hitting $105.72. The company had a trading volume of 259,011 shares, compared to its average volume of 2,888,012. The firm has a market cap of $43.07 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17. The business has a fifty day simple moving average of $115.31 and a 200-day simple moving average of $120.83. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $152.19. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The company had revenue of $31.92 billion during the quarter, compared to analyst estimates of $31.93 billion. During the same period in the prior year, the company posted $1.90 earnings per share. Equities analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Institutional Investors Weigh In On Phillips 66

A number of hedge funds and other institutional investors have recently bought and sold shares of PSX. Oppenheimer & Co. Inc. lifted its position in shares of Phillips 66 by 10.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company's stock worth $5,349,000 after purchasing an additional 4,515 shares in the last quarter. Flavin Financial Services Inc. acquired a new position in shares of Phillips 66 during the 4th quarter worth about $1,190,000. Everence Capital Management Inc. acquired a new position in shares of Phillips 66 during the 4th quarter worth about $3,033,000. Donoghue Forlines LLC bought a new stake in Phillips 66 during the fourth quarter worth about $1,438,000. Finally, Smith Group Asset Management LLC acquired a new position in Phillips 66 during the fourth quarter worth $1,149,000. Institutional investors and hedge funds own 76.93% of the company's stock.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.